As companies embrace remote access, bring-your-own-device (BYOD), the Internet of Things and other technologies, it becomes increasingly hard to keep data private. Data storage and management require solid infrastructure, robust security controls, a thorough monitoring, and well-thought-out policies for data governance. In addition, enterprises are likely to have to contend with various privacy regulations at different industries, government and regional levels. This could make achieving privacy difficult and requires regular risk assessments and updates.

Individuals can decide the way their personal information is stored, collected, and used. It helps companies to build trust, uphold ethical standards and foster innovation while maintaining individual autonomy. Data privacy is crucial for protecting personal data, establishing trust and complying with the law, regulations and business continuity.

Data security is the process of safeguarding sensitive data from unauthorised access, theft or loss throughout its lifecycle. Data security involves techniques and processes like encryption, hashing, and tokenization in order to protect data both at rest and when it is in motion. It also involves authentication processes and authorizations that verify an individual’s identity in order to determine whether they are allowed access to data. Multi-factor authentication, for example, can ensure that only authorized people have access to sensitive information. Additionally, encryption can stop malicious actors from gaining access to sensitive files by rendering them unreadable. This can reduce the risk of a breach, and also prevent damage to intellectual property and confidential communications, or impact data analytics. Many businesses underestimate the importance of data security’s complexity and do not invest enough resources in it, despite its importance.